Stryker plans to acquire Inari Medical in a deal valued at $4.9 billion and designed to strength its position in the peripheral vascular market.
The deal, announced Monday and approved by both companies’ boards, is expected to close by the end of the first quarter. Stryker will purchase Inari's common stock for $80 per share.
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Inari Medical’s product portfolio includes medical devices that treat pulmonary embolism, deep vein thrombosis, in-stent thrombosis and arteriovenous fistula. Stryker said the products are “highly complementary” to its neurovascular business.
The purchase will better position Inari to accelerate the development of “innovative new solutions” and expand its footprint, Inari CEO Drew Hykes said in a news release.
For the first nine months of 2024, the company reported a net loss of $74 million, or $1.27 per share, compared to net income of $3 million, or 5 cents per share, in 2023's first nine months. Revenues during the first nine months totaled $442.4 million, compared with $361.5 million in the year-earlier period.
